Solved: I own a preschool. can i deduct amounts that we were not paid for by the parents?

I own a preschool. can i deduct amounts that we were not paid for by the parents?

is bad debt a business deduction

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No, you cannot claim amounts you were not paid, unless you are on an accrual basis and you had already reported the amounts as revenue. Individual taxpayers are on a Cash basis.

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No, you cannot claim amounts you were not paid, unless you are on an accrual basis and you had already reported the amounts as revenue. Individual taxpayers are on a Cash basis.

If I had education expenses other than tuition, but my parents are claiming that on their taxes, do I include that amount on my taxes or say my education expenses are $0?

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I own a preschool. can i deduct amounts that we were not paid for by the parents?

I own a preschool. can i deduct amounts that we were not paid for by the parents?

I own a preschool. can i deduct amounts that we were not paid for by the parents?

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I own a preschool. can i deduct amounts that we were not paid for by the parents?

I own a preschool. can i deduct amounts that we were not paid for by the parents?

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